Muhammed BENLİ, Aykut EKİNCİ, Ahmet ÇAĞLAR

Yönetişim Doğrudan Yabancı Yatırımlar İçin Önemli mi? Karşılaştırmalı Bir Analiz

Bu çalışma, yönetişim kalitesinin doğrudan yabancı yatırımlar (FDI) için ne derecede önemli olduğunu tespit etmeye çalışmaktadır. Bu amaçla, entropi ağırlıklandırma ve TOPSIS yöntemlerinin bir kombinasyonu kullanılarak, 171 ülke özelinde yönetişim kalitesi değerlendirilmiş ve TOPSIS yöntemiyle elde edilen yönetişim performansı ülke sıralamaları, bu ekonomilerin FDI girişleri performansıyla ilişkilendirilmiştir. Analizden elde edilen bulgular, Söz Hakkı ve Hesap Verebilirlik, Yolsuzluğun Kontrolü ve Düzenleyici Kalitenin, yönetişim performansının en önemli belirleyicileri olduğunu göstermektedir. Ayrıca Finlandiya, Danimarka, Yeni Zelanda, İsveç, İsviçre, Hollanda, Norveç, Lüksemburg, Kanada ve Avustralya yönetişim kalitesi açısından sırasıyla en iyi on ülke konumundayken, yönetişim kalitesi açısından en kötü on ülke sırasıyla Myanmar, Zimbabve, Eritre, Çad, Özbekistan, Tacikistan, Venezuela, Ekvator Ginesi, Türkmenistan ve Angola’dır. Elde edilen sonuçlar, ayrıca, yönetişim kalitesi ile FDI performansı arasında yakın bir ilişkiye işaret etmektedir. Daha yüksek yönetişim performansına sahip ülkeler aynı zamanda çoğunlukla daha fazla FDI çeken ekonomilerdir

Anahtar Kelimeler:

Yönetişim, Doğrudan Yabancı Yatırımlar, Entropi, TOPSIS

Does Governance Matter for Foreign Direct Investment? A Comparative Analysis

This study attempts to determine how important governance quality is for attracting foreign direct investment (FDI). To do so, using a combination of entropy weighting and TOPSIS methods, we assess the governance quality in 171 countries and correlate country rankings provided by the TOPSIS method with the FDI inflows performance of these economies. The findings from the analysis indicate that Voice and Accountability, Control of Corruption, and Regulatory Quality are the most important attributes of governance quality. Furthermore, Finland, Denmark, New Zealand, Sweden, Switzerland, Netherlands, Norway, Luxembourg, Canada, and Australia, are the best ten performing countries in terms of governance quality, respectively, while the worst-performing ten countries of governance quality are Myanmar, Zimbabwe, Eritrea, Chad, Uzbekistan, Tajikistan, Venezuela, Equatorial Guinea, Turkmenistan, and Angola, respectively. The findings also imply a close correlation between governance quality and inward FDI performance. The countries with higher governance performance are also mostly the economies attracting more FDI.

Keywords:

Governance, Foreign Direct Investment, Entropy, TOPSIS,

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